EU parliament approves landmark CETA free-trade deal with Canada

[Sunlei]

The European Union and Canada secured clearance on Wednesday for their contentious free-trade deal and the removal of import duties that supporters say will boost growth and jobs on both sides of the Atlantic.

The two parties can claim a success for their open markets policy after months of protest and uncertainty and in the face of US President Donald Trump, who has withdrawn from the Trans-Pacific Partnership (TPP) and wants to rework the North American Free Trade Agreement.

European Parliament lawmakers backed the Comprehensive Economic and Trade Agreement (CETA) by 408-254, meaning large parts of the EU-Canada deal, notably tariff reduction, will finally enter into force some 8 years after negotiations began.

The chief point of contention is the deal's system to protect foreign investors, which critics say can lead to cases such as Philip Morris's challenge, albeit unsuccessful, of plain tobacco packaging in Australia


http://www.france24.com/en/20170215-eu-parliament-approves-landmark-ceta-free-trade-deal-canada